(Rs. 1 Lac
(Rs. 2 Lac
(Rs. 5 Lac
1 to 1.50 (Seller)
Olympic Cards Ltd.
30 (Flore Price)
-1 to -1.50
90 to 106
4 to 4.50 (Seller)
MT Educare Ltd
74 to 80
3 to 4
Tuesday, March 27, 2012
Weak dollar also aids in prices moving up Copper prices ended higher on Monday, 26 March 2012 at Comex. Copper started the new week on solid footing on Monday, rallying by its most in more than two weeks as the dollar weakened after remarks from Federal Reserve Chairman Ben Bernanke reaffirmed the U.S. central bank's accommodative monetary stance. His comments helped to ignite a risk-on rally across the broader market, sending industrial metals, and U.S. equities all higher on the hopes for further monetary easing from the Fed. Copper for May delivery ended higher by 8 cents (2.1%) at $3.89 a pound at Comex on Monday. It fluctuated between $3.7950 and $3.8940 throughout the day. For February 2012, copper had gained 2.2%. Red metal prices for three-month-delivery at LME rose $153 (1.8) to $8,533 a metric ton on Monday. Copper has gained about 10% this year, spurred by improved U.S economic data, ultra-loose monetary policy in the western world and moves to stem Europe's debt crisis.
Prices move up following Fed Chairman's comments Bullion metal prices ended higher on Monday, 26 March 2012 at Comex. Comex gold futures ended the U.S. day session with good gains and near the daily high as prices touched a fresh two-week high. The market saw some bargain hunting after an early price dip on Monday, after solid gains posted on Friday. Commodity markets, including the precious metals, were given a booster shot on Monday morning when Federal Reserve Chairman Ben Bernanke ostensibly put another quantitative easing package back on the table. Gold for April delivery ended higher by $23.2 or 1.4%, to end at $1,685.6 an ounce on the Comex division of the New York Mercantile Exchange on Monday. Prices shed 1.7% on the month of February 2012.
Prices rise as Fed Chairman hints at more stimuli Crude prices ended higher on Monday, 26 March 2012 at Nymex. Prices moved up following a weak dollar and comments from Ben Bernanke, the Fed Chairman who put hopes of more stimuli across the table thereby increasing the prospect of higher energy demand. Light and sweet crude for May delivery rose $0.16 (0.2%) to $107.03 a barrel on the New York Mercantile Exchange on Monday. Prices earlier wavered between small gains and losses. Prices gained 8.7% during February 2012.
The market is poised for a strong start following upbeat global cues. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a gain of 59.50 points at the opening bell. Coal India will be in focus on reports that the company's independent directors on the board have blocked a proposal to sign 20-year fuel supply agreements with power producers with a guarantee to meet at least 80% of the commitment under government orders. Auto companies may see unwinding after the Maharashtra government has hiked the tax on diesel and petrol cars sold in the state. Sugar stocks will be in demand after an empowered group of ministers on Monday decided to allow one million tonne of sugar exports on top of the two million tonne already approved for the marketing year through September to ease surplus stocks and help mills repay cane arrears.
ICICI Bank has asked Kingfisher Airlines to provide more collateral for loans given to it or face a cut in credit even as promoter Vijay Mallya prepares to present a long awaited revival plan for the teetering carrier on Tuesday. (ET) Telenor opposed its JV partner Unitech’s petition before Company Law Board, seeking arbitration in dispute over control of Uninor. (ET) With KG-D6 output hitting an all-time low, Reliance Industries and partner BP will submit to the government by October an integrated development plan to produce natural gas from all the 18 discoveries in the block. (ET) Jindal Steels ambitious but risky foray into iron ore mining in Bolivia faces an uncertain future after the Bolivian government reneged on its promise of natural gas, a crucial input into steel-making. (ET)
It was a sea of red on Dalal Street on Monday as the key equity benchmarks lost altitude amid sustained selling pressure. Sentiment was hit by media reports that the proposed General Anti-Avoidance Rules (GAAR) could affect FII investments through participatory notes (P-notes), which runs into billions of dollars. The GAAR comes into effect from April 1. FIIs are worried that the Government could raise tax demands as a result of these new provisions. Under the proposed GAAR, the country's income tax department will have the power to deny individuals and entities the benefits of any tax avoidance treaty. Market insiders warn that fresh P-note issues could be hit badly from April until there is clarity on the matter. The BSE Sensex ended at 17,053, down 309 points or ~1.8% over the previous close. It had earlier touched a day’s low of 17,021 and a day’s high of 17,377. It opened at 17,377. The NSE Nifty settled at 5,184, down 94 points or 1.8% over the previous close. It earlier touched a day’s low of 5,175 after opening at day’s high of 5,275.
More important than the quest for certainty is the quest for clarity- Francois Gautier. Concerns and confusion surrounding the proposed GAAR norms for FIIs spooked the sentiment in the Indian market on Monday. Market players are looking for clarity on whether FIIs coming through Mauritius and those investing via Participatory Notes will be taxed from April 1 under the so-called GAAR. The undertone will remain a wee bit nervous till the mandarins in the Finance Ministry clarify on this matter. The opening today looks opposite of what we saw on Monday. A good start is in the offing thanks to the overnight bounce on Wall Street. Dovish remarks from Fed chairman Ben Bernanke about the US economy and monetary policy lifted Wall Street. European markets gained on reports that Germany is prepared to boost the financial firewall to prevent a debt contagion. Positive data on German business confidence also helped. Most Asian benchmarks are trading higher this morning, spurred by Bernanke's comments. South Korea's consumer confidence rose to the highest level in four months.